Why is Ireland such an expensive place to live?

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Why is Ireland such an expensive place to live? The annual review from the National Competitiveness Council – published this week – may focus on the costs of doing business, but it also highlights the high cost of living.

Ireland is the fifth most expensive place to live in the EU, with prices here 13 per cent above the euro area average. We are in line with the Netherlands and Austria, and ahead of big players like France and Germany. Only Scandinavia, with its eye-watering cost of living, and tiny Luxembourg are more costly.